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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Waterville, ME Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Waterville, ME Housing Market Trends

With a population of 15,828, 6,366 total housing units (homes and apartments), and a median house value of $205,752, house prices in Waterville are solidly below the national average.

Single-family detached homes are the single most common housing type in Waterville, accounting for 39.65% of the city's housing units. Other types of housing that are prevalent in Waterville include duplexes, homes converted to apartments or other small apartment buildings ( 32.83%), large apartment complexes or high rise apartments ( 21.64%), and a few mobile homes or trailers ( 3.98%).

People in Waterville primarily live in small (one, two or no bedroom) single-family detached homes. Waterville has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Waterville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Waterville built between 1940-1969 ( 32.88%). A lesser amount of the housing stock also hails from before 1939 ( 28.89%). There's also some housing in Waterville built between 2000 and later ( 4.74%).

Waterville Home Appreciation Rates

Appreciation rates for homes in Waterville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.44%, which ranks in the top 50% nationwide. This equates to an annual average Waterville house appreciation rate of 6.65%.

Over the last year, Waterville appreciation rates have trailed the rest of the nation. In the last twelve months, Waterville's appreciation rate has been 3.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waterville were at 4.78%, which equates to an annual appreciation rate of 20.54%.

Importantly, this makes Waterville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Maine, our data show that Waterville's latest annual appreciation rate is lower than 60% of the other cities and towns in Maine.

Average Home Values

Median Home Value

$205,752

Waterville, ME Home Prices
> $1,440,000
$1,080,001 - $1,440,000
$720,001 - $1,080,000
$576,001 - $720,000
$432,001 - $576,000
$288,001 - $432,000
$144,001 - $288,000
$72,001 - $144,000
$0 - $72,000
0.4%
0.4%
0.0%
0.0%
0.0%
0.0%
1.6%
1.6%
6.6%
6.6%
25.5%
25.5%
44.5%
44.5%
17.2%
17.2%
4.2%
4.2%
0% 100.0%
% of Homes
Low

for Maine

Low

for nation

Number of Homes And Apartments:

6,366

Waterville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,589 / per month

Homeownership Rate

Owners
Renters
39.6%
39.6%
60.4%
60.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.8%
4.8%
95.2%
95.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.7%
4.7%
33.5%
33.5%
32.9%
32.9%
28.9%
28.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
39.7%
39.7%
1.9%
1.9%
32.8%
32.8%
21.6%
21.6%
4.0%
4.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
23.5%
23.5%
29.1%
29.1%
29.0%
29.0%
14.5%
14.5%
1.6%
1.6%
0% 100.0%
% of Homes